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Coinbase Moves to Bring Oregon Securities Suit to Federal Jurisdiction

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Coinbase (COIN) is petitioning a federal court to take over jurisdiction of Oregon’s lawsuit accusing it of selling unregistered securities, arguing the state is improperly interfering with federal efforts to clarify digital asset regulations.

In a filing late Monday evening, Coinbase argued that Oregon Attorney General Dan Rayfield’s lawsuit which it initiated in April over alleged trading of unregistered securities represents an overreach, and seeks to establish a patchwork regulatory landscape conflicting directly with ongoing bipartisan efforts at the federal level.

«This lawsuit is a regulatory land grab,» the filing reads. «Dissatisfied with the federal government’s recent enforcement decisions, Oregon’s new Attorney General has set out to dictate the future of crypto and the nationwide platforms on which they trade.»

Coinbase further argues that Oregon’s lawsuit ignores recent bipartisan federal efforts to clarify crypto regulations, improperly tries to create independent state-level oversight of digital asset platforms, and wrongly resurrects claims previously dismissed by federal regulators.

The Securities and Exchange Commission (SEC) dropped its enforcement action against Coinbase in February, weeks after the inauguration of President Donald Trump. The exchange made a $1 million donation to Trump’s inaugural committee.

«What you have here is Oregon, and only Oregon, trying to revive the SEC case, which was dismissed with prejudice,» said Ryan VanGrack, Coinbase Vice President of Legal in an interview.

«A lone Attorney General is trying to inhibit regulatory clarity and impede consumers’ freedom to choose when and how they invest in crypto,» VanGrack said.

Coinbase points out in the filing that the state’s Attorney General might not even have the authority to file the case.

«Oregon-based securities transactions are generally regulated by the Division of Financial Regulation, not the Attorney General,» Coinbase wrote. «The Attorney General nonetheless seeks to stretch his limited enforcement authority beyond the breaking point to install himself as the commissar of crypto for Oregon and beyond.»

In an interview, VanGrack explicitly rejected the idea that Oregon’s lawsuit is simply a partisan issue.

Rather than framing it as a straightforward «red state vs. blue state» conflict, he emphasized a more nuanced approach, highlighting how states of various political leanings have dropped or not pursued similar actions.

«Crypto has become more bipartisan, and we have other statewide litigation in which red states and blue states have dismissed their actions,» he said, highlighting Vermont, a traditionally Democratic state, as well as Kentucky, considered politically «red» federally but led by a Democratic governor, and Illinois, typically seen as a blue state, all dismissing crypto-related litigation.

«It’s less about red or blue; it’s that there are a few holdovers,» VanGrack said, emphasizing that crypto regulation and clarity have increasingly become bipartisan goals federally.

He suggested Oregon’s action is an outlier driven not necessarily by partisan politics, but by the specific motivations of its Attorney General.

«The motivations for this lawsuit are transparent,» VanGrack concluded. «It’s not about the law, and it’s not about a desire to help Oregonians. It’s about the politics. It’s an effort to grab headlines at Oregon’s expense.»

Coinbase has pledged to vigorously defend its position, stating clearly it has no intention of voluntarily exiting Oregon’s market.

«We are not pulling out of the state unless we are required to,» VanGrack affirmed. «We are going to fight, because what Oregon has done is wrong.»

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Bitcoin Pushes Toward $107K Even as Trump Sends National Guard to Los Angeles

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Bitcoin (BTC) BTC maintained a steady climb Saturday as U.S. domestic tensions intensified.

Markets remained focused on crypto resilience despite unsettling headlines, including an immigration-related standoff in Los Angeles.

According to a report by CNBC, over 100 arrests have been reported as clashes continued between protesters and federal agents, prompting President Trump to authorize the deployment of 2,000 National Guard troops. By Sunday morning, elements of the 79th Infantry Brigade had arrived on-site, according to Northern Command.

Further escalation came with Defense Secretary Pete Hegseth warning that U.S. Marines at Camp Pendleton could also be mobilized if violence persists. Still, Bitcoin’s stability at $106,332 suggests crypto investors remain unfazed, treating the unrest as a regional event rather than a market-moving crisis.

Bitcoin traded within a narrow $1,057 range, from $105,043 to $106,101, and is currently hovering at $106,332. The price action showed a strong rebound after briefly dipping below $105,100, as buying interest re-emerged around the $105,400 support level, according to CoinDesk Research’s technical analysis model.

An early breakout attempt above $106,100 ran into selling pressure, creating a high-volume resistance zone. That move was short-lived as profit-taking set in, though the coin held onto its gains. The consolidation structure remains bullish, with the pattern of higher lows hinting at a potential push toward $107,000 if resistance breaks cleanly.

Despite broader macro headwinds, BTC continues to attract buyers during dips, underscoring its role as a perceived hedge amid rising uncertainty.

Technical Analysis Highlights

  • BTC traded within a $1,288 range (1.22%) between a low of $105,043.65 and a 24-hour high of $106,332.
  • Resistance around $105,900–$106,100 was broken as price surged beyond this zone with strong volume during the early afternoon.
  • Support at $105,400 held firm through several retests, reinforcing bullish sentiment.
  • A breakout to $106,332 occurred around 13:48, followed by minor profit-taking and stabilization above $106,000.
  • The hourly chart shows an ascending trend with consistent higher lows, invalidating the earlier «pump and dump» interpretation.
  • With momentum intact, BTC may test the $107,000 resistance level if current support near $105,800 holds.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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Bitcoin Holds Above $105K Despite Donald Trump’s Threats Against Elon Musk

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Bitcoin BTC held firm above $105,000 on Saturday despite an unusually combative and personal escalation in the Trump-Musk feud that could rattle traditional markets next week.

On Saturday, in a phone interview with NBC News, President Trump warned that there would be “serious consequences” if Elon Musk financially backed Democratic candidates running against Republicans who support the GOP’s budget bill. “If he does, he’ll have to pay the consequences for that,” Trump said, adding later, “He’ll have to pay very serious consequences if he does that.”

Trump, who has often boasted of past support from Musk, firmly dismissed the idea of mending ties. “No,” he said when asked whether he wished to repair the relationship. “I would assume so, yeah,” he added when asked if the rift was permanent.

Despite the intensifying feud between two of the most influential figures in U.S. politics and technology, Bitcoin remained unfazed. The cryptocurrency held onto earlier gains and continues to trade near weekly highs. The market’s composure suggests that traders may increasingly view BTC as a hedge against institutional dysfunction, or at least as an asset insulated from the partisan fallout that tends to impact equities more directly.

Technical Analysis Highlights

  • BTC traded in a 24-hour range of $1,162 (1.13%), from a low of $104,624 to a high of $105,786, according to CoinDesk Research’s technical analysis model.
  • Strong support formed at $104,800, where above-average volume confirmed buyer interest.
  • Resistance at $105,200 was broken and has since flipped into a short-term support zone.
  • Volume peaked at 378 BTC during key breakout moments, especially around 13:43–13:46 and 13:53.
  • A short consolidation occurred between $104,300–$104,600 before the final surge to near highs.
  • An ascending price channel remains intact, showing bullish structure despite intermittent pullbacks.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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Ether Holds Steady Above $2,500 as ETF Demand Signals Institutional Confidence

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Ether ETH has rebounded firmly from key support near $2,460, recovering losses and stabilizing above the $2,500 threshold amid broader market volatility.

The rally follows a higher low formation backed by above-average volume, signaling growing market confidence.

Institutional participation appears to be reinforcing the trend, with BlackRock’s ETHA ETF reporting $492 million in net inflows last week.

Total holdings now exceed $4.84 billion, reinforcing long-term bullish sentiment even as price action remains sensitive to geopolitical developments.

Traders are watching to see if ETH can challenge resistance in the $2,520–$2,530 range.

Technical Analysis Highlights

  • ETH traded within a $72 range over 24 hours, from a low of $2,460.35 to a high of $2,532.41.
  • A key support zone formed at $2,460–$2,470, where ETH bounced on strong volume during midnight hours.
  • Final hour surge reached $2,515.11, backed by 5,919 ETH in volume.
  • Higher low structure established with interim support at $2,485 and resistance at $2,503.
  • Final retracement held support at $2,507, with price consolidating around $2,510 into the close.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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